Yesterday, former Roma owner James Pallotta made some intriguing comments about his pursuit of a new club. The American businessman sold his stake in Roma last summer and admitted that owning a Premier League club interests him.
He actually referenced Newcastle by name as the type of club he’d like to pursue, one with a rich history and great fanbase. He also jokingly said he’d already put in an offer for Newcastle before quickly making it clear he was kidding.
However, Pallotta’s statement does little but increase speculation about Newcastle’s future, especially while our Premier League status remains uncertain. While Ashley is still reportedly desperate to sell Newcastle, it appears he’s only focused on one deal at the moment.
The Northern Echo is reporting that Ashley has all of his eggs in the Saudi takeover basket. He remains fully committed to resurrecting the deal he agreed upon this time last year.
As Ashley sees it, he’s agreed to this deal and it should have been signed off by the Premier League. For reasons that reek of politics, the Premier League slow-rolled their owners’ and directors’ tests while asserting that the Saudi state must provide paperwork as an entity of the consortium.
That is where the standstill remains with Ashley pursuing legal options to get the takeover back on track. However, at this point, it seems unlikely but I’m primarily taking that approach to shield against further bitter disappointment.
The reason why this consortium – which consists of the Saudi PIF, Amanda Staveley’s PCP Partners, and the Reuben Brothers- remains so enticing to Mike Ashley is simply that they have the funds to meet his asking price.
After the first attempt by Amanda Staveley, Peter Kenyon and GACP Sports, Henry Mauriss, and BZG among others, Mike Ashley has found the group that can meet his demands. He seems bound and determined to fight for this takeover until all potential avenues are exhausted.